Derbyshire Dales has highest cash ISA balance

Tuesday, 22 March 2011 01:39

Customers in the Derbyshire Dales have the highest cash ISA balance of £10,478 - 34 per cent above the UK average of £7,836.

That is according to research conducted as part of Halifax’s latest ISA Savings Map, which found the lowest average balances are in the London boroughs of Hackney and Southwark, with sums of £4,760 and £5,260 respectively.

Flavia Palacios Umana, head of Halifax savings products, said: "Despite the majority of the large cash ISA balances being held in London and the south-east it is Derbyshire Dales in the East Midlands that has the highest average balance of all at £10,478."

However, this is only just over twice the annual ISA limit and falls as low as one and a half times at a national level, she stated.

She added a number of savers are still not making the most of their savings by using their full annual ISA allowance, which will earn them interest free of tax. 

Use the Myfinances.co.uk's comparison tables to find the best deal on an ISA 
 

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